OANDA:GBPCHF seems to be breaking the lower of the structure through which it had been correcting to the upside.
If you aren't in the trade from the top or previous breaks, or you are looking to open further short positions, this seems to be a good opportunity, as the pair has consolidated right around the bottom 4hr (in the chart, in yellow) the break of which confirms without further due that the long term downside has commenced. To be absolutely certain of the break, wait for the pair to break the low of the corrective structure ( bright blue line) with a small impulse to the downside, wait for the impulse to correct itself with a small flag, and sell the break of the flag with a stop loss above it, to optimize your R/R ratio.
Let us remind you the incredible targets, of the coming trading opportunity to the downside:
First target on the break of the daily low in the 1.40 area, and final expected target in the 1.048 area.
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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
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